William Blair Equities Analysts Lower Earnings Estimates for Titan Machinery Inc. (TITN)
Titan Machinery Inc. (NASDAQ:TITN) – Analysts at William Blair dropped their Q3 2018 earnings per share estimates for shares of Titan Machinery in a research note issued to investors on Thursday. William Blair analyst L. De. Maria now expects that the company will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.15.
Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.03. The firm had revenue of $268.87 million during the quarter, compared to the consensus estimate of $260.08 million. Titan Machinery had a negative return on equity of 3.67% and a negative net margin of 1.61%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. WARNING: “William Blair Equities Analysts Lower Earnings Estimates for Titan Machinery Inc. (TITN)” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/05/william-blair-equities-analysts-lower-earnings-estimates-for-titan-machinery-inc-titn.html.
A number of other analysts also recently issued reports on TITN. Piper Jaffray Companies set a $18.00 price target on shares of Titan Machinery and gave the company a “hold” rating in a report on Friday, August 4th. ValuEngine downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday. Robert W. Baird set a $18.00 target price on shares of Titan Machinery and gave the stock a “buy” rating in a report on Thursday, August 24th. BidaskClub downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.50.
Titan Machinery (TITN) opened at 12.10 on Monday. The company’s market cap is $258.60 million. The stock has a 50 day moving average of $16.78 and a 200 day moving average of $16.02. Titan Machinery has a 12-month low of $8.68 and a 12-month high of $19.22.
Several institutional investors have recently bought and sold shares of TITN. JPMorgan Chase & Co. increased its holdings in shares of Titan Machinery by 35.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,214,699 shares of the company’s stock worth $18,634,000 after buying an additional 318,205 shares during the last quarter. Rutabaga Capital Management LLC MA increased its holdings in shares of Titan Machinery by 42.4% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 740,338 shares of the company’s stock worth $11,357,000 after buying an additional 220,588 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Titan Machinery in the 1st quarter worth about $2,458,000. Federated Investors Inc. PA increased its holdings in shares of Titan Machinery by 58.5% in the 2nd quarter. Federated Investors Inc. PA now owns 416,032 shares of the company’s stock worth $7,480,000 after buying an additional 153,596 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Titan Machinery by 16.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 977,624 shares of the company’s stock worth $17,577,000 after buying an additional 136,914 shares during the last quarter. Hedge funds and other institutional investors own 77.45% of the company’s stock.
About Titan Machinery
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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